Mixed-Use Property with
For Sale
$500,000
801 W Front Street, Traverse City, MI 49684
The fully occupied building combines street-level retail space with two residential apartments.
Property Size1,540 SF
Price / SF$324.68
Days on Market78
Property Features for 801 W Front Street
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Commercial
Zoning
Commercial
Occupancy
100%
Site & Location
Road Access
Yes
Mixed-Use Components
retail, residential
Additional Details
Gross Income
$39,600
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,010
Building Details
Building Size
1,540 SF
Year Built
1905
Tenancy
Multi
Listing Agency:
REO-TCRandolph-233022
(231) 946-4040
Listed By:
Deanna Hess
(231) 590-3649
Source:
Carterassociatesrealty
Added: Aug 19
Changed: Nov 3
Last Checked: Nov 3 at 2:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REO-TCRandolph-233022
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Investment Insights
Based on property information with market context.
This 1905 mixed-use property contains three rental units: a retail storefront at street level and two apartments. All units are occupied. The storefront is leased month-to-month, while the apartments are under longer-term leases.
The property is on West Front Street in Traverse City, with access to downtown and the surrounding commercial corridor. Its existing mix of retail and residential space provides a clear, established configuration.
The property is on West Front Street in Traverse City, with access to downtown and the surrounding commercial corridor. Its existing mix of retail and residential space provides a clear, established configuration.
Key Highlights
- Three occupied rental units: one storefront and two apartments
- Street‑level retail space is leased month‑to‑month
- Both apartments have longer‑term leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,042
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,840
$380.8K
Cap Rate 7%
$272,029
$272.0K
Cap Rate 9%
$211,578
$211.6K
Market Conditions
NOI Build-Up for 1,540 SF
Gross rent
$29.6K $19.20/SF
− Vacancy
−$2.4K −$1.54/SF
EGI
$27.2K $17.66/SF
− OpEx
−$8.2K −$5.30/SF
NOI
$19.0K $12.36/SF
Area
Grand Traverse County, MI
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,840
Cap Rate 7%
$272,029
Cap Rate 9%
$211,578
Alternative Uses
Best Use
Retail
$272.0K
$238.0K – $317.4K
NOI $19,042 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$209.1K
$183.0K – $243.9K
NOI $14,636 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$334.5K
$292.7K – $390.3K
NOI $23,418 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,534
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The fully occupied building combines street-level retail space with two residential apartments.
Where is this mixed-use property located?
The property is located at 801 W Front Street Traverse City, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Three occupied rental units: one storefront and two apartments; Street‑level retail space is leased month‑to‑month; Both apartments have longer‑term leases
